StCBs – Maintenance of CRR - ఆర్బిఐ - Reserve Bank of India
StCBs – Maintenance of CRR
RPCD.CO.RF. BC 65 /07.02.01/2006-07
April 4, 2007
NOTIFICATION
In exercise of the powers conferred under Sub-section (1) of Section 42 of the Reserve Bank of India Act, 1934, and in supersession of its Notification RPCD.RF.BC.53/07.02.01/2006-07 dated March 2, 2007, the Reserve Bank of India hereby notifies that the average Cash Reserve Ratio (CRR) required to be maintained by Scheduled State Co-operative Banks shall, from effective dates mentioned below, be at the percentage points as indicated below.
Effective date |
CRR on net demand and |
April 14, 2007 |
6.25 |
April 28, 2007 |
6.50 |
However, the effective CRR maintained by Scheduled State Co-operative Banks on total demand and time liabilities shall not be less than 3.00 per cent, as stipulated under the Act, ibid.
(Anand Sinha)
Executive Director